Coinbase, a cryptocurrency exchange, has obtained registration with the French markets regulator, as confirmed by a spokesperson on Thursday. This development will enable the company to expand its services in another important European market.
The approval from France’s AMF watchdog, as a virtual asset service provider (VASP), signifies that Coinbase can now provide digital currency services within the country.
With this VASP registration, Coinbase will be able to offer services like custody of digital assets, buying or selling digital assets using legal tender, trading digital assets against other digital assets, and operating a digital asset trading platform. The company’s statement on Thursday highlighted these new opportunities.
Regulators in France, similar to their counterparts in other European countries, have been catching up with the rapid emergence of cryptocurrencies and blockchain technology. They strive to strike a balance between harnessing the potential of these innovations to improve payment systems and trading while ensuring consumer protection.
The European Union is also making efforts to introduce the Markets in Crypto Assets (MiCA) regulation, which aims to establish a comprehensive framework for regulated operations by crypto companies within the bloc, promoting consistency among member states.
Source (CNBC)
